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KAP AG
Regulatory Filings • May 23, 2018
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Regulatory Filings
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Ad-hoc | 23 May 2018 14:34
KAP Beteiligungs-AG: SALE OF THE 94% INDIRECT SHAREHOLDING IN GEIGER FERTIGUNGSTECHNOLOGIE GMBH
KAP Beteiligungs-AG / Key word(s): Disposal/Investment
KAP Beteiligungs-AG: SALE OF THE 94% INDIRECT SHAREHOLDING IN GEIGER FERTIGUNGSTECHNOLOGIE GMBH
23-May-2018 / 14:34 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
SALE OF THE 94% INDIRECT SHAREHOLDING IN
GEIGER FERTIGUNGSTECHNOLOGIE GMBH
Fulda, 23. May 2018 – GM Tec Industries Holding GmbH, a wholly owned subsidiary of KAP Beteiligungs-AG, today entered into an agreement on the sale of its majority shareholding in Geiger Fertigungstechnologie GmbH based in Pretzfeld. The purchase price reflects the enterprise value of EUR 38 million for all shares in Geiger Fertigungstechnologie GmbH (100%) as adjusted by its net financial liabilities on the closing date. In this context, the purchaser will assume all existing obligations vis-a-vis KAP Beteiligungs-AG, in particular arising from shareholder loans. The buyer is an indirect wholly owned subsidiary of Zhejiang Tieliu Clutch Co., Ltd. based in Hangzhou, People’s Republic of China. By the sale KAP Group concludes a cooperation lasting for more than 17 years.
The transaction is subject to the condition precedent of various regulatory approvals being granted by supervisory authorities. The closing of the transaction is expected to occur in the second or third quarter of 2018.
Fulda, 23. May 2018, 13:58 h
KAP Beteiligungs-AG
Guido Decker Dr. Alexander Riedel
Chairman of the Executive Board Chief Financial Officer
23-May-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | KAP Beteiligungs-AG |
| Edelzeller Straße 44 | |
| 36043 Fulda | |
| Germany | |
| Phone: | 06611030 |
| Fax: | 0661103830 |
| E-mail: | [email protected] |
| Internet: | www.kap.de |
| ISIN: | DE0006208408 |
| WKN: | 620840 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart |
| End of Announcement | DGAP News Service |